MGM Springfield fires President/COO and CFO (Boston, Lowell: movers, lawyers)

[mdovell]

Eh. Look gambling has been around since the dawn of time. The lottery has been around for quite some time as well. The big draw from this is the fact that casinos don't close. That means more people in longer hours which boosts other areas around.

O I invest and do pretty well. I've bought during corrections. I wish I bought in my roth a few days later to catch in on the latest correction but o well. I saw one guy go though $2,100 at mgm in video roulette. As dumb as it might sound if you don't win more than you put in you are losing. Some people get obsessed with seeing "winner" that nothing else matters. What you put in a game is gone. It doesn't matter how much you win if it isn't as much as what you put in or more. Someone puts in $100 they go up and down and finally pull out at $75. Ok so they lost $75. It's less than what they started with. Not everyone gets that.

But to be frank it just doesn't mean that much given that generations ago how many were running number games? They employ people, are heavily regulated and usually have some spinoff activity. I much rather see something like this then say a frat house or a strip club. Heck I went to Bangor Maine years ago and the casino there you can't even tell from the outside. It's just a big white building with a spotlight.

We can debate the games. Personally I'd like to see horse racing come back and maybe jai alai.

[btownboss4]

I really think the casinos failed to realize the reason why Mohegan Sun works is because it’s not in Boston or Springfield or whatever.

People go there to get out of town moreso than gamble. It’s a thing to do tog at out of town, having a casino in town actually defeats the purpose of “going to the casino”
For a significant market share.

Hampton might be successful but they are going to the beach and the Casino is something they pop into so you’re not taking those customers away either.

[BostonBornMassMade]

Originally Posted by btownboss4

I really think the casinos failed to realize the reason why Mohegan Sun works is because it’s not in Boston or Springfield or whatever.

People go there to get out of town moreso than gamble. It’s a thing to do tog at out of town, having a casino in town actually defeats the purpose of “going to the casino”
For a significant market share.

Hampton might be successful but they are going to the beach and the Casino is something they pop into so you’re not taking those customers away either.

They thought people would go to Boston and want to gamble but people don't really come to Boston to have fun anyway.

They figured they could get Western new England with Springfield but the people of western NE dont seem like big gamblers.

They just didn't actually get the culture of the region really.

[GeoffD]

Originally Posted by BostonBornMassMade

They thought people would go to Boston and want to gamble but people don't really come to Boston to have fun anyway.

They figured they could get Western new England with Springfield but the people of western NE dont seem like big gamblers.

They just didn't actually get the culture of the region really.

It's not that. It's casino saturation. When Foxwoods and then Foxwoods/Mohegan Sun were the only casinos in New England, they drew from a population of 20 or 30 million people in New England and NYC tri-state. Nobody in eastern Massachusetts or RI is going to drive to MGM Springfield other than maybe once to check it out or for events where they're not gambling. Same for NYC tri-state. I imagine it's pretty close to a zero sum game. Every time you open a new casino, you're pulling revenue from other casinos rather than adding new revenue. A 50 mile radius from Springfield doesn't have the population base.

[western mass and love it]

Originally Posted by GeoffD

It's not that. It's casino saturation. When Foxwoods and then Foxwoods/Mohegan Sun were the only casinos in New England, they drew from a population of 20 or 30 million people in New England and NYC tri-state. Nobody in eastern Massachusetts or RI is going to drive to MGM Springfield other than maybe once to check it out or for events where they're not gambling. Same for NYC tri-state. I imagine it's pretty close to a zero sum game. Every time you open a new casino, you're pulling revenue from other casinos rather than adding new revenue. A 50 mile radius from Springfield doesn't have the population base.

The Springfield Metro has 700k people. Hartford and it’s metro has 1.2 million people. The two cities are less than 25 miles apart. So in there is roughly 2 million people within an hours drive of Springfield. I’d say there is plenty of population around.

[DanBev]

We are senior's we over the years played the slots one or two times a year,since they have gone electronic no more,the penny slots which are the majority eat money faster than the dollar slots.MGM is of no interest.
I would question whether East Windsor is a good idea?

[GeoffD]

Originally Posted by western mass and love it

The Springfield Metro has 700k people. Hartford and it’s metro has 1.2 million people. The two cities are less than 25 miles apart. So in there is roughly 2 million people within an hours drive of Springfield. I’d say there is plenty of population around.

Right. Foxwoods and Mohegan Sun used to draw from a population base of at least 30 million. It’s casino saturation. Springfield also isn’t affluent enough to get high stakes gamblers where the big profits lie. Dumping your Social Security check into the slots isn’t very profitable. People in the Hartford metro have decades of going to their own casinos. Why would they go to a dump failed city like Springfield?

[johngolf]

Originally Posted by GeoffD

Right. Foxwoods and Mohegan Sun used to draw from a population base of at least 30 million. It’s casino saturation. Springfield also isn’t affluent enough to get high stakes gamblers where the big profits lie. Dumping your Social Security check into the slots isn’t very profitable. People in the Hartford metro have decades of going to their own casinos. Why would they go to a dump failed city like Springfield?

The point is there are so many casinos now, thy are just feeding of each others customers. The pie has not gotten any bigger. Just more people want a piece of the pie.

[western mass and love it]

Originally Posted by GeoffD

Right. Foxwoods and Mohegan Sun used to draw from a population base of at least 30 million. It’s casino saturation. Springfield also isn’t affluent enough to get high stakes gamblers where the big profits lie. Dumping your Social Security check into the slots isn’t very profitable. People in the Hartford metro have decades of going to their own casinos. Why would they go to a dump failed city like Springfield?

Have you been to Ledyard Or Uncasville Ct? They both make Springfield Look great, and they are both in very rural areas. And both are out of the way and have zero to do around the area.


And if MGM is failing , Encore won’t be far behind. Was there two weeks ago on Saturday night and it was dead. It’s miserable to get to, parking is outrageous and it just doesn’t fit in well with the area. We ended up leaving after about two hours and going to Lucky Strike over in Assembly Row. I just think Massachusetts is a casino state. My parents live 10 minutes away and have zero interest in going and honestly most people I know out there have zero interest either.

[Dm84]

Originally Posted by western mass and love it

Have you been to Ledyard Or Uncasville Ct? They both make Springfield Look great, and they are both in very rural areas. And both are out of the way and have zero to do around the area.

Correct. The difference is people actually go there to go to the casinos. In Springfield the casinos are just another reason to avoid the area.

And if MGM is failing , Encore won’t be far behind. Was there two weeks ago on Saturday night and it was dead. It’s miserable to get to, parking is outrageous and it just doesn’t fit in well with the area. We ended up leaving after about two hours and going to Lucky Strike over in Assembly Row. I just think Massachusetts is a casino state. My parents live 10 minutes away and have zero interest in going and honestly most people I know out there have zero interest either.

Encore can survive off of tourists and the convention business. People don't come to Boston to go to Encore but they may go while they're in Boston for other reasons. People will not go to Springfield for any reason other than to visit some relatives or go to the Big E. It's a failed city with absolutely nothing to offer other than a casino which can be found in less crappy places already.